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Student Finance for full time undergraduates starting in September 2012 By Harj Singh

Student Finance for full time undergraduates starting in September 2012 By Harj Singh Student Services. Student Finance. Tuition Fees Tuition Fee Loans Grants for living costs Loans for living costs Additional grants National Scholarship Programme Repayment terms on loans Top tips.

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Student Finance for full time undergraduates starting in September 2012 By Harj Singh

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  1. Student Finance for full time undergraduates starting in September 2012 By Harj Singh Student Services

  2. Student Finance • Tuition Fees • Tuition Fee Loans • Grants for living costs • Loans for living costs • Additional grants • National Scholarship Programme • Repayment terms on loans • Top tips

  3. Tuition Fees • Institutions can charge up to £9,000 for the year in 2012/13 • BCU proposes three separate fee bands of £7,500, £8,200 and £9,000 per annum for full time undergraduate degree courses • HND’s and Foundation Degrees will be charged at £6,000

  4. Tuition Fee Loans • You don’t have to pay for your course upfront • Tuition Fee Loan available • Apply through Student Finance England • Must meet the residential & previous study requirements • Interest rate 3% plus inflation • Salary threshold £21,000 • Written off after 30 years

  5. Grants for living costs • Maintenance Grants and Loans available for living costs • Maximum maintenance grant available of up to £3,250 if household income is less than £25,000 • Partial maintenance grant available if household income is between £25,000 and £42,600 • Alternative special support grant of up to £3,250, for those eligible for means tested benefits, such as some single parents.

  6. Loans for living costs • Loan for living costs available in addition to the Tuition Fee Loan • Maximum amounts • living in parental home - £4,375 • living away from parental home - £5,500 • 65% is an automatic entitlement • 35% is means tested on your household income

  7. Examples

  8. Additional Grants • Adult Dependants’ Grant - up to £2,642 • Childcare Grant - up to 85% of costs • Parents’ Learning Allowance - up to £1,508 • Disabled Students’ Allowance • specialist equipment - up to £5,161 for course • non-medical helper - up to £20,520 per year • other disability related - up to £1,724 per year

  9. National Scholarship Programme • We will also be offering National Scholarships to over 370 students from the lowest income backgrounds who demonstrate excellence in academic achievement, performance or potential • These will be worth £3,000 each and will be awarded as a fee waiver • Further details will be available later in the year. • Please check website for updates

  10. Repayment terms on loans • Loans are repayable from the April after graduation and earnings are above £21,000. • From the April after you leave university if you are earning below £21,000, interest will reduce to just the rate of inflation • Graduates earning between £21,000 and £41,000 will be charged interest at the full rate of inflation plus interest of up to 3 per cent. • Graduates earning above £41,000, will be charged interest at the full rate of inflation plus 3 per cent.

  11. Repayment Examples

  12. Top tips • Explore all funding you are eligible for • Apply in plenty of time • www.direct.gov.uk/studentfinance • Think about part time work • Prepare a budget plan • http://www.bcu.ac.uk/studentcalculator

  13. Student Services Telephone: 0121 331 5588 Email: student.services@bcu.ac.uk Ask Us Service: www.bcu.ac.uk/askus Web: www.bcu.ac.uk/studentservices www.facebook.com/bcussv www.twitter.com/bcussv • We have dedicated staff who • can help you with: • Budgeting • Money Management • Debt Counselling • Alternative sources of funding • Access to Learning Fund

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